Binance Rolling Out Crypto Card for EU, UK Markets
Binance has announced the first major roll out of its debit card that allows users to pay for goods and services in crypto.
- Users in the European Economic Area (EEA) will be able to apply for a card from August, those in the U.K. will be able to do so afterwards.
- Powered by Swipe, the card allows users to spend crypto – currently bitcoin, Binance Coin, Swipe Coin, and Binance USD – at any merchant that supports Visa payments.
- First released into beta back in April, the card only converts crypto into the local fiat currency at the point of sale.
- The card was first tested in Vietnam and Malaysia.
- Binance announced last week it had acquired Swipe, which is based in the Philippines, for an undisclosed sum.
- Many existing crypto cards are prepaid and require users to top-up before using; Binance card is connected directly to a user’s wallet and works like a traditional debit card.
- Josh Goodbody, Binance’s director for European growth, commented that the Binance Card was a “critical” part of their expanded offering.
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